Press Release

Anthem Responds to U.S. Court of Appeals Decision on Acquisition of Cigna

INDIANAPOLIS--(BUSINESS WIRE)--Apr. 28, 2017--
Anthem, Inc. (NYSE: ANTM) is disappointed by today's decision given that
the demonstrated efficiencies make this a pro-competitive, consumer
friendly transaction. Combining Anthem and Cigna would positively impact
the health and well-being of millions of Americans and deliver
significant cost savings to consumers. As Judge Kavanaugh noted in his
dissent, “the record decisively demonstrates that this merger would be
beneficial to the employer-customers who obtain insurance services from
Anthem and Cigna.” We are committed to completing the transaction and
are currently reviewing the opinion and will carefully evaluate our
options.

About Anthem, Inc.

Anthem is working to transform health care with trusted and caring
solutions. Our health plan companies deliver quality products and
services that give their members access to the care they need. With over
74 million people served by its affiliated companies, including more
than 40 million within its family of health plans, Anthem is one of the
nation’s leading health benefits companies. For more information about
Anthem’s family of companies, please visit www.antheminc.com/companies.

IMPORTANT INFORMATION FOR INVESTORS AND SHAREHOLDERS

NO OFFER OR SOLICITATION

This communication does not constitute an offer to sell or a
solicitation of an offer to sell or a solicitation of an offer to buy
any securities or a solicitation of any vote or approval, nor shall
there be any sale of securities in any jurisdiction in which such offer,
solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of any such jurisdiction. No
offering of securities shall be made except by means of a prospectus
meeting the requirements of Section 10 of the Securities Act of 1933, as
amended, and otherwise in accordance with applicable law.

ADDITIONAL INFORMATION AND WHERE TO FIND IT

In connection with the proposed transaction between Anthem,
Inc. (“Anthem”) and Cigna Corporation (“Cigna”), Anthem has filed with
the U.S. Securities and Exchange Commission (the “SEC”) a registration
statement on Form S-4, including Amendment No. 1 thereto, containing a
joint proxy statement of Anthem and Cigna that also constitutes a
prospectus of Anthem. The registration statement was declared effective
by the SEC on October 26, 2015. This communication is not a substitute
for the registration statement, definitive joint proxy
statement/prospectus or any other document that Anthem and/or Cigna have
filed or may file with the SEC in connection with the proposed
transaction.

INVESTORS AND SECURITY HOLDERS OF ANTHEM AND CIGNA ARE URGED TO READ THE
DEFINITIVE JOINT PROXY STATEMENT/PROSPECTUS AND OTHER DOCUMENTS FILED
WITH THE SEC CAREFULLY IN THEIR ENTIRETY AS THEY CONTAIN OR WILL CONTAIN
IMPORTANT INFORMATION ABOUT THE PROPOSED TRANSACTION. Investors and
security holders may obtain free copies of the registration statement
containing the definitive joint proxy statement/prospectus and other
documents filed with the SEC by Anthem or Cigna through the web site
maintained by the SEC at http://www.sec.gov.
Copies of the documents filed with the SEC by Anthem are available free
of charge on Anthem’s internet website at http://www.antheminc.com
or by contacting Anthem’s Investor Relations Department at
(317) 488-6390. Copies of the documents filed with the SEC by Cigna are
available free of charge on Cigna’s internet website at http://www.cigna.com or
by contacting Cigna’s Investor Relations Department at (215) 761-4198.

This document, and oral statements made with respect to information
contained in this communication, contain certain forward-looking
information about Anthem, Inc. (“Anthem”), Cigna Corporation (“Cigna”)
and the combined businesses of Anthem and Cigna that is intended to be
covered by the safe harbor for “forward-looking statements” provided by
the Private Securities Litigation Reform Act of 1995. Forward-looking
statements are statements that are not generally historical facts. Words
such as “expect(s),” “feel(s),” “believe(s),” “will,” “may,”
“anticipate(s),” “intend,” “estimate,” “project” and similar expressions
(including the negative thereof) are intended to identify
forward-looking statements, which generally are not historical in
nature. Such statements are subject to certain known and unknown risks
and uncertainties, many of which are difficult to predict and generally
beyond Anthem’s and Cigna’s control, that could cause actual results and
other future events to differ materially from those expressed in, or
implied or projected by, the forward-looking information and statements.
These risks and uncertainties include those discussed and identified in
Anthem’s and Cigna’s public filings with the SEC. Important factors that
could cause actual results and other future events to differ materially
from the forward-looking statements made in this communication are set
forth in other reports or documents that Anthem and/or Cigna may file
from time to time with the SEC, and include, but are not limited to:
(i) the ultimate outcome of the proposed transaction, including the
ability to achieve the synergies and value creation contemplated by the
proposed transaction, (ii) the ultimate outcome and results of
integrating the operations of Anthem and Cigna, (iii) disruption from
the merger making it more difficult to maintain businesses and
operational relationships, (iv) the risk that unexpected costs will be
incurred in connection with the proposed transaction, (v) the timing to
consummate the proposed transaction and (vi) the possibility that the
proposed transaction does not close, including, but not limited to, due
to the failure to satisfy the closing conditions, including the receipt
of all required regulatory approvals. All forward-looking statements
attributable to Anthem, Cigna or any person acting on behalf of Anthem
and/or Cigna are expressly qualified in their entirety by this
cautionary statement. Readers are cautioned not to place undue reliance
on these forward-looking statements that speak only as of the date
hereof. Except to the extent otherwise required by federal securities
law, neither Anthem nor Cigna undertake any obligation to republish
revised forward-looking statements to reflect events or circumstances
after the date hereof or to reflect the occurrence of unanticipated
events or the receipt of new information. Readers are also urged to
carefully review and consider the various disclosures in Anthem’s and
Cigna’s SEC reports.